ElasticBox Secures $9M From Nexus Venture Partners.
Enabling developers and enterprises to create, deploy and manage their applications, California-based ElasticBox Inc, has managed to secure a $9 million Series A round of funding led by Nexus Venture Partners, with joining participation form Intel Capital. The recent funding will be used to scale up the team, increase the sales and marketing activities and also for research and development, ElasticBox CEO Ravi Srivatsav said.
“The cloud has fundamentally improved how people access and use infrastructure. But developing cloud-based applications is still a lengthy, expensive and broken process. ElasticBox empowers the developer with pre-configured boxes that they can mix and match to create applications, similar to the way a DJ blends beats and samples to create new music,” Srivatsav said.
Backgrounds and Works.
Elasticbox was originally founded back in 2011 by a pair of former Microsoft employees Alberto Arias Maestro and Ravi Srivatsav. As a University of Mysore alumnus, Srivatsav is a partner at the software firm known as Radion Function. Previously he had worked at Fox Interactive Media, Rational Software and Catapulse. Alberto Arias Meastro had previously founded Dynamic Ops Inc. During his earlier days, he had worked at The Bank of New York.
Elasicbox streamlines the development, deployment, and management of applications available for cloud. It offers a modular, services-based application development structure, where a fully configured machination of application structure are enclosed as ‘boxes’ and made available as a services. Boxes can be reused and fully mobile across cloud environments. During 2012, the firm had managed to raise a total of $3.4 million in financial round from Intel Capital, a16z Seed and Sierra Ventures.
Srivastav has commented that the firm is interested in expanding into the international markets, which includes the Asia pacific region.
“We are already working with 12 marquee clients, including online streaming service Netflix, and a few banks in the US and Switzerland. We also have bagged hundreds of startups across Asia Pacific, Europe and North America,” Srivatsav said.
The company is mainly targeting the North America, Europe and Asia Pacific markets for the time being.
The product has been made free for independent developers, while enterprises will have to pay a monthly subscription fee based on the number of developers utilizing the platform. Elasticbox currently has offices set up in London, Madrid and San Francisco.
According to Srivatsave, plenty of startup as well as larger known enterprises have been operating within theses areas. The firm its mainly going against is Github. “The completion is wide open, not just from startups but also from extremely large enterprises. At some level, we are competing with IBM, Microsoft, HP, and VMware,” Srivatsav noted.
“There have been two pivotal moments in enterprise infrastructure development—the creation and implementation of the virtual machine, and the rise of cloud services,” said Jishnu Bhattacharjee, managing director at Nexus Venture Partners. “ElasticBox is now overhauling enterprise application development, deployment and management within this cloud in what we think is the biggest step in cloud innovation since VMware and Amazon Web Services.”